McMahon informs 9 million struggling student borrowers that Bessent will be their new debt collector
Washington’s New Approach to Student Loan Debt Collection Education Secretary Linda McMahon has announced plans to reach out to the 43 million Americans with student loan debt, noting that the Treasury Department will now oversee debt collection. It’s estimated that around 9 million of those borrowers are currently in default. The letter explains that this […]
Treasury Secretary Scott Bessent dismisses the idea of intervening in oil futures.
Treasury Secretary Scott Bessent appeared on “Morning with Maria” to talk about various pressing issues, including the Iran conflict, soaring oil prices, and the overall uncertainty in the markets, particularly regarding the Federal Reserve and Jerome Powell’s future role. He emphasized that his department would not interfere with the oil futures market, despite the U.S. […]
Bessent disagrees with CNBC about worldwide oil supply during the Iran conflict
During a recent segment on CNBC’s “Squawk Box,” Treasury Secretary Scott Bessent challenged a reporter’s depiction of the global oil shortage, contending that the media has somewhat exaggerated the extent of the supply gap stemming from disruptions in the Persian Gulf. He engaged in a discussion with CNBC’s Brian Sullivan, disagreeing with the view that […]
Scott Bessent States the U.S. Navy Will ‘Soon’ Accompany Tankers Through the Strait of Hormuz
U.S. Navy to Escort Oil Tankers in the Strait of Hormuz Treasury Secretary Scott Bessent announced on Friday that the U.S. Navy will soon start to escort oil tankers through the Strait of Hormuz to safeguard them against potential terrorist threats from Iran. “I think the U.S. Navy will likely collaborate with the United Nations […]
Scott Bessent brought into Situation Room during interview — indicates US Navy may escort oil tankers through Strait of Hormuz
President Trump summoned Treasury Secretary Scott Bessent to the White House Situation Room, where discussions were underway about the economic impacts of the ongoing conflict with Iran. Bessent, aged 63, was engaged in a conversation with Wilfred Frost on Sky News’ Master Investor Podcast when an aide interrupted him about 13 minutes in, saying, “The […]
Scott Bessent to meet with China’s vice premier in Paris for trade discussions before Trump heads to China
U.S.-China Trade Talks Set for Paris Meeting U.S. Treasury Secretary Scott Bessent is scheduled to meet Chinese Vice Premier He Lifeng in Paris this Sunday and Monday to discuss trade matters, according to an announcement from the Treasury Department on Thursday. This meeting seems to be a precursor to President Donald Trump’s upcoming state visit […]
Bessent guided yen rate assessment during Japan’s election uncertainty
U.S. Treasury’s Yen Interest Rate Check A report from the Nihon Keizai Shimbun reveals that the U.S. Treasury Department carried out a check on yen interest rates in January to help stabilize the market during a turbulent election period in Japan. Summary: Treasury Secretary Scott Bessent directed the yen interest rate check in January. Senior […]
Scott Bessent is hesitant about refunding Trump’s IEEPA tariffs while the administration introduces an alternative plan.
Bessent Holds on Tariff Refunds After Supreme Court Ruling In Washington, Treasury Secretary Scott Bessent has paused the implementation of a lower court’s decision regarding rebates linked to President Trump’s International Emergency Economic Powers Act (IEEPA) tariffs, following a recent Supreme Court ruling. “The Supreme Court didn’t really address that,” Bessent mentioned during an appearance […]
Scott Bessent criticizes political hostility following the Mar-a-Lago security event
Treasury Secretary Criticizes Political Climate Following Mar-a-Lago Incident Treasury Secretary Scott Bessent expressed strong disapproval on Sunday regarding what he referred to as the “toxicity” emanating from the political left, especially after the violent event at President Donald Trump’s Mar-a-Lago residence. During an appearance on “Sunday Morning Futures,” Bessent stated, “Two would-be assassins are dead, […]
Scott Bessent Discusses the Future of Trump’s Tariffs and Trade Agreements
Tariff Revenues Expected to Stay Steady, Says Treasury Secretary Treasury Secretary Scott Bessent appeared on “Sunday Morning Futures” with Maria Bartiromo, stating that tariff revenues are unlikely to drop despite a recent Supreme Court ruling regarding President Trump’s “Emancipation Day” tariffs. The Supreme Court ruled 6-3 that Trump overstepped his authority under the International Emergency […]